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Aug 23 - 08:36 AM
USD/JPY - Repeated Failures Keep Bears In The Game
First appeared on eFXplus on Aug 23 - 06:15 AM
  • Sideways action continues to frustrate our 106.50 short play
  • Repeated failures in the 106.70 area keep us in the game
  • A break below the 10DMA, 106.30, is needed to rein in our 105.10 objective
  • Daily momentum flips to positive having held negative values Since Aug 1
  • Critical level for bear remains the Aug 13 106.98 high
  • Weeklies are construcive but not convincingly so

USD/JPY Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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